CB Financial Services (NASDAQ:CBFV) Given Buy (B) Rating at Weiss Ratings

Key Points

• CB Financial Services (NASDAQ:CBFV) received a continued buy rating from Weiss Ratings, with two analysts also rating it as a Buy and one as Hold.
• The company's stock price rose by 3.3%, reaching $33.12, and it has a 52-week high of $34.00.
• CB Financial Services exceeded earnings expectations by reporting $0.74 EPS and announced a $5 million stock repurchase program, indicating potential stock undervaluation.

CB Financial Services (NASDAQ:CBFV - Get Free Report)'s stock had its "buy (b)" rating reiterated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research firms have also recently issued reports on CBFV. Wall Street Zen raised CB Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. DA Davidson increased their target price on shares of CB Financial Services from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upgraded shares of CB Financial Services from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $31.00 to $39.00 in a research report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, CB Financial Services has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.

CB Financial Services Stock Up 3.3%

Shares of CBFV traded up $1.05 during mid-day trading on Wednesday, hitting $33.12. 7,860 shares of the company's stock were exchanged, compared to its average volume of 18,314. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 0.87. CB Financial Services has a fifty-two week low of $26.01 and a fifty-two week high of $34.00. The company has a market cap of $165.27 million, a price-to-earnings ratio of 14.99 and a beta of 0.37. The stock's 50-day moving average is $32.69 and its 200-day moving average is $30.12.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.34. CB Financial Services had a return on equity of 7.79% and a net margin of 14.43%.The business had revenue of $13.47 million for the quarter, compared to analysts' expectations of $12.83 million. On average, sell-side analysts anticipate that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

CB Financial Services declared that its board has authorized a stock repurchase program on Thursday, September 4th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at CB Financial Services

In other news, COO Jennifer L. George sold 5,042 shares of the company's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.15, for a total value of $167,142.30. Following the sale, the chief operating officer directly owned 12,285 shares in the company, valued at $407,247.75. This represents a 29.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CB Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey acquired a new position in CB Financial Services in the second quarter valued at $30,000. JPMorgan Chase & Co. increased its holdings in CB Financial Services by 902.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank's stock valued at $70,000 after purchasing an additional 2,212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of CB Financial Services in the second quarter valued at about $73,000. Raymond James Financial Inc. purchased a new stake in shares of CB Financial Services during the second quarter valued at approximately $99,000. Finally, New York State Common Retirement Fund purchased a new stake in CB Financial Services during the 2nd quarter worth $105,000. 33.06% of the stock is currently owned by hedge funds and other institutional investors.

About CB Financial Services

CB Financial Services, Inc operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts, as well as time deposit products.

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